Type
Internal restructuring
Country
Germany
Region
Nordrhein-Westfalen; Düsseldorf; Essen
Location of affected unit(s)
Essen
Sector
Real Estate
Real Estate Activities
Buying, Selling And Rental Activities
68.2 - Rental and operating of own or leased real estate

500 - 600 jobs
Number of planned job losses
Job loss
Announcement Date
13 June 2005
Employment effect (start)
1 July 2005
Foreseen end date
31 December 2005

Description

Viterra, a company specialising in the large-scale management of housing, is reported to cut one third of its work-force. Viterra was recently sold by energy-giant E.ON to British hedge fund Terra Firma. Terra firma wants to focus Viterra's business and will close the departments for development and data processing. The way job losses will be managed was not disclosed.


Sources

  • 13 June 2005: business-wissen.de

Citation

Eurofound (2005), Viterra, Internal restructuring in Germany, factsheet number 61750, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/61750.